IBM President and CEO Samuel Palmisano has been elected chairman of the company, succeeding Louis V. Gerstner Jr., who is retiring at the end of the year.
Palmisano, 51, will take on the role as chairman effective Jan. 1, IBM said in a statement today.
The much-anticipated appointment places all the reins in Palmisano's hands as he continues the initiatives he has undertaken since seizing the post of CEO from Gerstner last March (see story).
Since becoming CEO, Palmisano has headed an acquisition of PwC Consulting and several software companies, as well as heading a restructuring of the company's microelectronics unit and the outsourcing of desktop PC manufacturing.
News source: ComputerWorld - Palmisano named IBM chairman